Efficiency is the key to succeeding in today’s highly competitive housing market, as the ability to close loans quickly ensures good customer service (leading to more referrals). Timely closings, however, strongly depend on one’s ability to avoid valuation-related delays – especially during final delivery to the GSEs or FHA.
In order to avoid these costly delays, lenders and AMCs need to consider workflow-driven technologies that are capable of automating the delivery of their appraisal reports to the UCDP® and EAD portal. This automation helps ensure compliance and instantly delivers their reports to Fannie, Freddie, or the FHA, which endorses efficient closings and happier customers.
eTrac’s Global Kinex® solution provides the workflow-driven automation that lenders and AMCs need for compliantly delivering appraisals to the GSEs and FHA – helping to expedite this process with little to no manual intervention.
Global Kinex validates and extracts the Base 64-encoded PDF within the MISMO® XML file—ensuring an identical matching pair—which allows vendors to submit a single file for processing multiple workflows.
The conversion process allows PDF appraisals to be processed by other lines of business, such as a correspondent, where the original MISMO XML may be unavailable.
Appraisals that are processed by Global Kinex undergo a series of thorough checks, including a GSE rules-set and UAD compliance check.
Global Kinex allows individual reports to be submitted directly to either the UCDP or EAD portal. In addition, the solution’s web-services architecture provides organizations with a method to integrate UCDP or EAD delivery into their commercial or proprietary applications.
Post-delivery, users can easily track submissions, download Submission Summary Reports (SSRs), archive reports, resolve hard-stops, request overrides (in some instances), and resubmit reports (if necessary).
For more information, or to see a quick demo, contact us today at email@example.com.